Most executives and HR specialists know a large percentage of baby boomers will retire over the next five to 10 years — and with them, 50% of the CEOs of major companies. But as with Hurricane Katrina, we see it coming and aren’t doing enough: We remain woefully unprepared.
Some 75 million U.S. workers will retire soon. The talent to replace them will be chosen from the next generation of only 45 million available workers. Globally, with economies growing rapidly, the demand for leaders is outstripping the supply.
A huge leadership void is looming, and major companies are unprepared to meet this challenge. This problem isn’t going away. With a shrinking pool of talent to choose from, the stakes and costs will be daunting.
A few organizations have invested heavily in leadership development, and they’re already seeing a handsome return on investment. In fact, the top 20 companies for leadership development show significant bottom-line advantages.
This is a brief synopsis of a 2000 word article suitable for consultants’ newsletters for executives and leaders in organizations. It is available for purchase with full reprint rights, which means you may put your name on it and use it in your newsletters, blogs or other marketing materials. You may also modify it and add your personal experiences.
There are two versions of this article: 2000 words and 1000 words (approximate word counts). The full article covers the following sub-topics:
Top 20 Companies for Leaders
Shrinking Pools Everywhere
Why Good Leaders Matter
Homegrown Versus External Imports
Leadership Incubation: Time Is Running Out
7 Best Practices
A Motivating Work Climate
Growth Factors Versus Derailers
How People Grow
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All word lengths are approximate.